INDUSTRIAL ADHESIVES MARKET ANALYSIS

Market Challenges And Opportunities

Global Industrial Adhesives Market Drivers:

Growing demand from packaging industry to propel market growth

Industrial adhesives are a type of bonding materials used to join two or more substrates together. They are produced from natural and synthetic polymeric materials. These substances can be used either wet or dry and are available in a range of textures, viscosities, and strengths. They are widely used in packaging industry as they are highly effective and provide excellent performance characteristics.

Growing demand for sustainable and durable products to augment market growth

Rising demand for sustainable and durable products is a significant factor that is projected to drive the market growth in the near future. This is due to the increasing construction of residential and commercial buildings in emerging countries. The rapid development of e-commerce sector is another factor that is projected to fuel the growth of this market. The market is also boosted by rising middle-class household income in developing countries.

Global Industrial Adhesives Market Opportunities:

Industrial adhesives market is expected to witness lucrative growth opportunities in the future due to rapid urbanization, increasing population, growing new construction and infrastructure development activities. Increasing demand for construction materials that offer high adherence, improved performance and simpler application methods are further drive the market for industrial adhesives.

Growing demand for water-based adhesives due to rising environmental concerns is expected to offer additional market opportunities. Water-based adhesives are manufacture from water, polymers and a choice of additives. They cure by the evaporation of the water and are often used in gluing porous or semi-porous materials such as cardboard, paper, and wood.

Global Industrial Adhesives Market Restraints:

Fluctuating price of raw materials to hinder market growth

Petrochemicals, solvents, and tackifiers are key raw materials used in the production of industrial adhesives. These chemicals are derived from crude oil and as a result, their prices are dependent on the price of oil. Moreover, the depletion of oil resources is also affecting their supply and increasing the raw material costs. This is a major challenge faced by the industrial adhesives market and is expected to hinder its growth in the coming years.

Strict regulations regarding the VOC emissions

Some of the organizations of various countries that make regulations for volatile organic emissions are Environmental Protection Agency (the U.S.), Environmental Protection Department (the UK), the Central Pollution Control Board of India, and others. The Environmental Protection Agency regulates VOC emissions at Federal level in 40 CFR 59, which is the volatile organic compound emission standard for commercial and consumer products.